Citizens National Bank in Waxahachie v. Scott

This case involves a suit over the alleged nonpayment of a promissory note. On June 28, 2000, Terry Scott, Richard Engel, and Richard Karamatic borrowed $25,250 from Citizens National Bank in Waxaha-chie (CNB) to be used to cover startup costs for a company called Inoquest Communications. Under the terms of the promissory note that Scott, Engel, and Karamatic signed, repayment on the debt was to be made no later than December 21, 2000.

For several months, it appears that no payments were made on the loan. Then, on October 31, 2000, Engel allegedly instructed Albert Garcia, a bank employee, to…